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17.—(1) A paying agent or receiving agent who fails to comply with a requirement imposed under or paragraph (1) or (2) of article 16 shall be guilty of an offence and liable upon summary conviction to a fine not exceeding $8,000.
(2) A paying agent or receiving agent who fails to take all reasonable steps—
(a)to establish the identity and residence of a relevant payee, or
(b)to verify the name, address and residence of a relevant payee as required by article 9,
shall be guilty of an offence and liable upon summary conviction to a fine not exceeding $3,000.
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